KITA News and Reports
  • This Year’s Online Export Keywords: Korean Wave, Innovative Products, Impression, Asia
    2019-01-02

    This Years Online Export Keywords: Korean Wave, Innovative Products, Impression, Asia

     

    - KITAs TradeKorea published Export Success Stories through International Online Marketing' -

     

    TradeKorea, an online platform that provides trade matching service between companies run by the Korea International Trade Association, suggested 'Hallyu (Korean Wave)', 'Innovative products', 'Impression', and 'Asian market' as overseas marketing trends of this year.

      

    The Korea International Trade Association (Chairman, Kim Young-joo) stated the above in the book titled 2018 Export Success Stories through International Online Marketing that is Easy for Start-ups which was published by collecting 18 success cases of international online marketing. In particular, this book includes a detailed guide to online marketing techniques so that start-ups and novice exporters can utilize the book as a reference for international online marketing.

      

    TradeKorea has been providing on-line and off-line supports for small and medium-sized companies that are willing to export to help them trade with customized buyers tailored to each country and item. As a result, Korean small and medium-sized companies have concluded export contracts of US $ 46.09 million between January and November this year, increased by 19 percent year-on-year.

      

    According to the book, the exports of cosmetics and hairdressing equipment via TradeKorea reached 8.19 million dollars, accounting for the largest portion (17.8%) of the total exports, thanks to the popularity of Korean Wave in the global market. Functional cosmetics company Beauren Korea has successfully entered into the Australian market with close supports of the Korea International Trade Association from the introduction of buyers to export contracts. Based on this experience, Beauren Korea has been expanding its markets to Japan, USA, Thailand and Russia.

      

     

    Exports of innovative products through the online platform were also noticeable and the exports of start-up companies accounted for 46 percent of TradeKoreas total exports. Brunt, who developed the smart products of Internet of Things (IoT), has continued to knock on the door of the overseas market and succeeded in signing the first export contract with the largest electronics distributor in Indonesia.

      

    There is a case that a company had impressed overseas buyers and succeeded to export. Lumir, a social venture company designed for corporate social responsibility (CSR), developed a light-emitting diode (LED) candle lamp to help children at slums in Philippine who work during the day and study at night relying on candle lights. TradeKorea had promoted the product overseas and the company concluded a final export contract with Bruneian buyer, who was impressed by the background story of the product development and its performance.

      

    By region, 58.8 percent of TradeKoreas exports were headed to Asia this year. The figure increased by 46.8 percent point year-on-year and China (17%) was the biggest export destination, followed by the United States (9.9%), Vietnam (6.7%), Hong Kong (6.4%) and India (6.0%).

      

    Heo Duck-jin, head of the e-Biz services group at the Korea International Trade Association, said, TradeKorea is an online platform that can be easily utilized by Korean small and medium-sized companies in the process of entering into overseas B2B market." He added, "Next year, we plan to concentrate more on international online marketing of start-up companies and novice export companies."

     

    The book is available on the electronic library of the Korea International Trade Association.

     

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